SVB Financial Group (NASDAQ:SIVB – Get Rating) announced its quarterly earnings results on Thursday. The bank reported $4.62 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.74), RTT News reports. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.48 billion. SVB Financial Group had a net margin of 25.57% and a return on equity of 13.72%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.22 EPS.
SVB Financial Group Stock Performance
SVB Financial Group stock opened at $291.44 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a fifty day moving average price of $229.51 and a two-hundred day moving average price of $316.57. SVB Financial Group has a 52-week low of $198.10 and a 52-week high of $658.47. The firm has a market capitalization of $17.23 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.59 and a beta of 1.47.
Wall Street Analyst Weigh In
SIVB has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on SVB Financial Group from $265.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, December 7th. Janney Montgomery Scott cut SVB Financial Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $280.00 to $500.00 in a research report on Friday, October 21st. Wedbush decreased their target price on SVB Financial Group from $385.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. DA Davidson decreased their target price on SVB Financial Group to $240.00 in a research report on Monday, December 12th. Finally, JPMorgan Chase & Co. reduced their price objective on SVB Financial Group from $375.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, December 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $363.37.
Insiders Place Their Bets
Institutional Trading of SVB Financial Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV increased its stake in shares of SVB Financial Group by 2.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 2,362 shares of the bank’s stock valued at $793,000 after buying an additional 64 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of SVB Financial Group by 5.3% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,117 shares of the bank’s stock valued at $711,000 after buying an additional 106 shares in the last quarter. Prudential PLC acquired a new stake in shares of SVB Financial Group in the first quarter valued at $704,000. Beacon Pointe Advisors LLC increased its stake in shares of SVB Financial Group by 9.8% in the first quarter. Beacon Pointe Advisors LLC now owns 985 shares of the bank’s stock valued at $551,000 after buying an additional 88 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in SVB Financial Group by 33.5% in the first quarter. Brown Brothers Harriman & Co. now owns 917 shares of the bank’s stock valued at $513,000 after acquiring an additional 230 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.
About SVB Financial Group
SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment consists of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.
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